Posted 2 years ago
By Post Staff
The price of gasoline and diesel in Nebraska goes up almost 2-cents on Monday as the adjustable portion of the state motor fuel tax goes up 1.7-cents for the next six months. The total state tax will be 26.3-cents per gallon.
The tax is reviewed every 6 months to determine if it’s bringing in enough revenue to fund the current budget of highway projects and road maintenance.
If more money is coming in than is needed, the tax is reduced. If revenue isn’t keeping up with the expected pace, the tax goes up as it is now.
The Nebraska Department of Revenue says each cent of fuel tax generates about $12 million in revenue annually for road projects. The next review will be in December.